Production of the Copaxone drug, a revolutionary treatment for Multiple Sclerosis, by the Israeli pharmaceutical giant Teva. Photo: Teva.

JNS.org – Israeli pharmaceutical giant Teva has announced a joint $21 million deal with the United Kingdom to fund research on dementia.

The announcement of the deal came on a tour of the company’s facilities by British Prime Minister David Cameron. Teva will team with the U.K.’s National Institute for Health Research (NIHR) on the project. The Israeli pharmaceutical company will contribute the lion’s share of funding, $20 million.

“We are delighted to collaborate with NIHR on both clinical development and early dementia research. It will be a catalyst for innovation to take place within a healthcare system that is admired the world over,” said Michael Hayden, Teva’s president of global R&D and chief scientific officer, Jerusalem Post reported.

During his tour, Cameron praised Israeli innovation and remarked on the impact Teva has had globally.

“Success in technology, in innovation, in enterprise particularly in our pharmaceutical and healthcare sector are absolutely vital if Britain and Israel are going to be winners in what I call the global race,” Cameron stated.

While not a disease itself, dementia is brought on by other diseases such as Alzheimer’s, Parkinson’s, and Huntington’s disease. Researchers estimate that nearly half of all people over the age of 80 suffer from a form of dementia.